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MAS fines Asiaciti Trust S$1.1M for AML breaches

The Monetary Authority of Singapore (MAS) has imposed a penalty of S$1.1 million on Asiaciti Trust Singapore Pte Ltd (Asiaciti) for a failure to comply with MAS’ anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements. Asiaciti has paid the penalty in full and has taken remedial actions. The Singapore regulator published its enforcement action on Wednesday, explaining that it…

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